Project Y requires a $312,000 investment for new machinery with a six-year life and no salvage value. The project yields the following annual results. Cash flows occur evenly within each year. (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Annual Amounts Sales of new product Expenses Project Y $ 355,000 Materials, labor, and overhead (except depreciation) Depreciation-Machinery 159,040 52,000 25,000 Selling, general, and administrative expenses Income $ 118,960 Required: 1. Compute Project Y's annual net cash flows. Annual amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling, general, and administrative expenses Income Net cash flow $ $ Income 355,000 159,040 52,000 25,000 118,960 Cash Flow